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#51 2024-01-03 22:13:01

gap
Member
Registered: 2023-06-14
Posts: 1,280

Re: What are the disadvantages of Centralized exchange

the money in the centralised exchange is like a loan they got from an investor. The change of default is always there with a loan. So, anyone who uses a centralized crypto exchange will be at risk of losing money due to this matter.

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#52 2024-01-03 22:15:47

crpuusd
Member
From: Blockchain
Registered: 2022-12-13
Posts: 1,763

Re: What are the disadvantages of Centralized exchange

gap;29035 wrote:

the money in the centralised exchange is like a loan they got from an investor. The change of default is always there with a loan. So, anyone who uses a centralized crypto exchange will be at risk of losing money due to this matter.

Ofcourse, is like  some of its downsides as well, such as having less variety, less privacy, and being at risk of bankruptcy.

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#53 2024-01-04 19:33:12

Lanistergame2
Member
Registered: 2022-12-25
Posts: 1,720

Re: What are the disadvantages of Centralized exchange

Centralized exchanges often require users to complete identity verification processes. This requirement compromises user privacy and goes against the principles of anonymity associated with cryptocurrencies.

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#54 2024-01-06 23:44:30

gap
Member
Registered: 2023-06-14
Posts: 1,280

Re: What are the disadvantages of Centralized exchange

Lanistergame2;29052 wrote:

Centralized exchanges often require users to complete identity verification processes. This requirement compromises user privacy and goes against the principles of anonymity associated with cryptocurrencies.

These are actually what prompt hackers to aim direct at a leaked details of ownership of crypto. The more you are secured with what you've got then you are likely to gain your independency secured.

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#55 2024-01-06 23:50:28

crpuusd
Member
From: Blockchain
Registered: 2022-12-13
Posts: 1,763

Re: What are the disadvantages of Centralized exchange

gap;29212 wrote:
Lanistergame2;29052 wrote:

Centralized exchanges often require users to complete identity verification processes. This requirement compromises user privacy and goes against the principles of anonymity associated with cryptocurrencies.

These are actually what prompt hackers to aim direct at a leaked details of ownership of crypto. The more you are secured with what you've got then you are likely to gain your independency secured.

Centralised exchange poses an expose of users data to the the system cause we what are the essence of operating a privated secured crypto currency coin and at the end you are expose.

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#56 2024-01-10 22:28:24

gap
Member
Registered: 2023-06-14
Posts: 1,280

Re: What are the disadvantages of Centralized exchange

There are lots of crypto coin out there but according to the users choice we can see the Defi wallet ranking as the top wallet around the crypto market choice.

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#57 2024-01-29 21:21:26

Kelechi
Member
Registered: 2022-12-25
Posts: 2,356

Re: What are the disadvantages of Centralized exchange

gap;29491 wrote:

There are lots of crypto coin out there but according to the users choice we can see the Defi wallet ranking as the top wallet around the crypto market choice.

The popularity of DeFi wallets highlights a shift towards user empowerment. Decentralized Finance offers users greater control over their funds, enabling them to participate in various financial activities without relying on traditional intermediaries

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#58 2024-01-29 21:23:48

CrytoCynthia
Member
Registered: 2022-11-19
Posts: 2,454

Re: What are the disadvantages of Centralized exchange

Also,DeFi wallets often leverage smart contracts, enabling users to automate financial processes such as lending, borrowing, and yield farming. This automation appeals to users seeking efficiency and transparency in their financial interactions."

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#59 2024-01-31 12:08:11

Comrade
Member
From: Utopia App Client
Registered: 2022-12-30
Posts: 1,730

Re: What are the disadvantages of Centralized exchange

CrytoCynthia;30921 wrote:

Also,DeFi wallets often leverage smart contracts, enabling users to automate financial processes such as lending, borrowing, and yield farming. This automation appeals to users seeking efficiency and transparency in their financial interactions."

If the system of each exchange undergoes a rightful margins of exhibiting true development system just like the deffi exchange then we can as well considered it more efficient.

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#60 2024-01-31 22:42:50

gap
Member
Registered: 2023-06-14
Posts: 1,280

Re: What are the disadvantages of Centralized exchange

There is no lost if an exchange is well developed and programs to withstand every threat and attack neither it is decentralized in nature or centralized.

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#61 2024-02-03 06:31:16

Comrade
Member
From: Utopia App Client
Registered: 2022-12-30
Posts: 1,730

Re: What are the disadvantages of Centralized exchange

Centralized exchange  evolves around the customer services while
integrating the measures of bits of transaction relatively per individuals  to inflict control, promotions, restrictions, ban, charges and etc.

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#62 2024-02-03 20:08:29

Europ
Member
Registered: 2023-05-23
Posts: 1,545

Re: What are the disadvantages of Centralized exchange

A centralized exchange can link up his user with his fund recordings and also consists of a backing up users identifications to it transaction limitations.

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#63 2024-02-03 21:58:54

gap
Member
Registered: 2023-06-14
Posts: 1,280

Re: What are the disadvantages of Centralized exchange

The centralised exchange occupied a great reputation to put the system of for customer daily usage and tracking user details to recognized their customers .

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#64 2024-02-04 20:01:28

Kelechi
Member
Registered: 2022-12-25
Posts: 2,356

Re: What are the disadvantages of Centralized exchange

gap;31224 wrote:

The centralised exchange occupied a great reputation to put the system of for customer daily usage and tracking user details to recognized their customers .

Centralized exchanges play a vital role in providing user-friendly platforms, contributing to their reputation for customer convenience. The ease of use and accessibility often make them the go-to choice for many cryptocurrency traders and investors.

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#65 2024-02-04 20:02:52

CrytoCynthia
Member
Registered: 2022-11-19
Posts: 2,454

Re: What are the disadvantages of Centralized exchange

Well, centralized exchanges implement robust security measures to protect user data and funds. This commitment to security enhances the trust users place in these platforms, contributing to their reputation as secure environments for cryptocurrency transactions."

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#66 2024-02-10 22:54:29

Europ
Member
Registered: 2023-05-23
Posts: 1,545

Re: What are the disadvantages of Centralized exchange

Centralized exchanges are private businesses, so the money they have in custody is a loan they got from an investor. The change of default is always there with a loan. So, anyone who uses a centralized crypto exchange will be at risk of losing money due to this matter.

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#67 2024-02-10 22:55:51

crpuusd
Member
From: Blockchain
Registered: 2022-12-13
Posts: 1,763

Re: What are the disadvantages of Centralized exchange

Europ;31713 wrote:

Centralized exchanges are private businesses, so the money they have in custody is a loan they got from an investor. The change of default is always there with a loan. So, anyone who uses a centralized crypto exchange will be at risk of losing money due to this matter.

A lot of centralized exchanges are focusing more on safety than variety. For this reason, they will have fewer cryptocurrency types available for trading.

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#68 2024-02-10 22:56:40

gap
Member
Registered: 2023-06-14
Posts: 1,280

Re: What are the disadvantages of Centralized exchange

crpuusd;31714 wrote:
Europ;31713 wrote:

Centralized exchanges are private businesses, so the money they have in custody is a loan they got from an investor. The change of default is always there with a loan. So, anyone who uses a centralized crypto exchange will be at risk of losing money due to this matter.

A lot of centralized exchanges are focusing more on safety than variety. For this reason, they will have fewer cryptocurrency types available for trading.

Usually, no more than 40 or 50 can be found on these exchanges. Sure, it may not be an issue if you are using one of the most popular cryptos like Bitcoin or Ethereum, but it still limits trading options for many people.

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#69 2024-02-11 20:54:52

Comrade
Member
From: Utopia App Client
Registered: 2022-12-30
Posts: 1,730

Re: What are the disadvantages of Centralized exchange

Many cryptocurrencies are set up at least in part to make payments or other processes faster and more efficient. To what extent would these advantages improve the economy? Are there other effects that would increase the benefits or offset them?

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#70 2024-02-11 20:56:39

Europ
Member
Registered: 2023-05-23
Posts: 1,545

Re: What are the disadvantages of Centralized exchange

We work with balance-sheet light financial infrastructure, technology, and services (FITS) providers across sectors and business models — from infrastructure and platform, software and technology, data and information, to tech-enabled services.

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#71 2024-02-11 20:57:29

crpuusd
Member
From: Blockchain
Registered: 2022-12-13
Posts: 1,763

Re: What are the disadvantages of Centralized exchange

The Utopia p2p ecosystem provides end-to-end support along the entire growth journey from small, innovative private start-ups to large, publicly-listed players.

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#72 2024-02-11 20:58:52

gap
Member
Registered: 2023-06-14
Posts: 1,280

Re: What are the disadvantages of Centralized exchange

This ecosystem endorse a holistic coverage that enables us to support our clients by combining our expertise with our proximity with shareholders, management, and understanding of end customers  (via our private equity and financial services franchises).

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#73 2024-02-19 21:37:13

CrytoCynthia
Member
Registered: 2022-11-19
Posts: 2,454

Re: What are the disadvantages of Centralized exchange

while centralized exchanges offer convenience, liquidity, and ease of use, they also present significant risks and drawbacks in terms of security, control, privacy, and market integrity.

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#74 2024-02-19 21:38:27

KAMSI_UG
Member
Registered: 2022-12-26
Posts: 2,077

Re: What are the disadvantages of Centralized exchange

Centralized exchanges represent a single point of failure in the cryptocurrency ecosystem. If an exchange experiences downtime, technical issues, or becomes insolvent, users may be unable to access their funds or execute trades, leading to disruptions and losses.

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#75 2024-02-19 21:39:07

Kelechi
Member
Registered: 2022-12-25
Posts: 2,356

Re: What are the disadvantages of Centralized exchange

Liquidity on centralized exchanges can vary widely depending on the trading volume and market activity. Less liquid markets may result in wider bid-ask spreads, slippage, and difficulty executing large orders at favorable prices.

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